FREEHOLD MIXED-USE INVESTMENT FOR SALE

A FOUR-STORY BUILDING COMPRISING A RESTAURANT WITH SELF-CONTAINED LETTINGS ROOMS ABOVE

31 OLD STEINE & 1B STEINE STREET BRIGHTON, EAST SUSSEX BN1 1EL

Henry Adams HRR Commercial Ltd, 50 Carfax, Horsham, West Sussex RH12 1BP 01403 282519 [email protected] henryadams.co.uk

Residential / Commercial / Rural / Development / Auctions

Andrew Algar BA (Hons) | Robert Crawford Clarke BSc AGRIC MRICS | Richard Town BA Hons, MARLA | Nicholas Hapgood Henry Adams HRR Commercial Limited is an independently owned Limited company. Registered in England and Wales No. 13177127 Registered office 50 Carfax, Horsham RH12 1BP. VAT No. 374832277 Regulated by the RICS (Royal Institution of Chartered Surveyors)

LOCATION

The property is situated in a prime location fronting the Old Steine, between the main tourist sites of Brighton Pier and The Royal Pavilion. Churchill Square Shopping Centre, North Laines and Brighton Station are all within a 10-minute walking distance. The subject property is located at the southern end of the Old Steine, close to the retail shopping thoroughfare of St James’s Street, Kemp Town. A street view can be viewed online through Google Maps by typing in the property’s postcode BN1 1EL

DESCRIPTION

A prominent four-storey period building with views over Steine Gardens and the seafront. The property comprises a fitted Sushi restaurant/takeaway arranged over ground, part first and basement floors. The second and third floors and part first floor comprise five letting rooms, all with en-suite shower rooms. Three rooms benefit from kitchenette facilities.

COMMERCIAL ACCOMMODATION (net internal floor areas)

Basement Seating 200 sq ft (18.6 sq m) Ground Floor Kitchen / seating area 404 sq ft (37.5 sq m) First Floor Ladies & gents’ toilets Total Accommodation 604 sq ft (56.1 sq m)

ACCOMMODATION OF LETTING ROOMS

First Floor - Double Room First Floor Landing - Small Double Room Second Floor - Double Room Second Floor Landing - Small Double Room Third Floor - Double Room

2015 library photos of the letting rooms following the building’s refurbishment

TENANCIES

31 Old Steine – Commercial Aspect Let to Fusion Sushi Limited on a 5-year term from the 24th of October 2019 at a rent of £20,000 per annum exclusive.

1b Steine Street – Letting Rooms We have been advised 4 of the 5 letting rooms are let and produce a combined rental income of £2,445 PCM. The estimated rental value of the vacant room is £350 PCM.

PRICE

£850,000

VAT

We have been advised that the property is VAT exempt.

PLANNING

We understand the existing use of the commercial aspect falls within Use Class E (formerly Use Class A3 cafes/restaurants) of the Town and Country Planning (Use Classes) Order 1987 (as amended). The letting rooms aspect falls under C1 (Hotels)

ENERGY PERFORMANCE CERTIFICATES

31 Old Steine Band D (77) 1B Steine Street Band C (76)

Certificates can be made available by email on request or downloaded on-line from Gov.UK website

portal.

VIEWING ARRANGEMENTS

Viewing by appointment through sole selling agents Henry Adams Commercial www.henryadams.co.uk/commercial

CONTACT

Andrew Algar – Director of Commercial Property

Brighton 01273 091823 | Horsham 01403 282519

Mobile 07868 434 449 | Email [email protected]

View looking south to Brighton Palace Pier [email protected]

LOCATION MAPS – NOT TO SCALE

Agent’s Notice – We endeavour to make our particulars as accurate and reliable as possible. They are for guidance only and are intended to give a fair overall summary of the property. They do not form part of any contract or offer and should not be relied upon as a statement or representation of fact. Measurements, areas, plans and distances are approximate only. Photographs and computer generated images show only certain parts and aspects of the property at the time they were taken or created. Neither Henry Adams HRR Commercial Limited nor any of its employees has any authority to make or give any representation or warranty whatsoever in relation to the property. No undertaking is given as to the structural condition of the property or any necessary consents or the operating ability or efficiency of any service system or appliance. Intending purchasers or lessees must satisfy themselves with regard to each of these points. Unless otherwise stated, all prices and rents are exclusive of VAT. Any intending purchasers or lessees must satisfy themselves as to the incidence of VAT in respect of any transaction.